Intraday Shortage penalty

M

Mamatha.nkav

New Member
#12
#12
hi...

Today (4.dec.2012)i sold 65000 of unitech shares and buy back 35000 shares. 30000 shares i could not buy back, now broker is telling that i will be charged for penalty. i had referred few questions and in that i understood that i can buy back tomorrow, same thing i discussed with broker but he is telling that it is not possible for cash intraday, it is only for future. is it so? please guide me what should i do.
 
P

pakatil

Well-Known Member
#13
#13
Mamatha.nkav said:
hi...

Today (4.dec.2012)i sold 65000 of unitech shares and buy back 35000 shares. 30000 shares i could not buy back, now broker is telling that i will be charged for penalty. i had referred few questions and in that i understood that i can buy back tomorrow, same thing i discussed with broker but he is telling that it is not possible for cash intraday, it is only for future. is it so? please guide me what should i do.
Click to expand...
sell 65000, bot back 35000, that means 30000 short carried. tomorrow ....ie 5th......it needs to be settled.....ie delivery to be given.

if u already hv in demat a/c or if u ur Broker has in his pool a/c then only delivery can take place. Otherwise it will go for auction on 6th. Cost of that purchase will be debited to ur a/c. Since Unitech is liquid counter, Q of penalty does not arise.
 
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